对美联储降息的不确定性令市政债券市场感到担忧

投资观察11-20

1412 ET - 利率走势可能是2026年市政债券投资者面临的最大障碍之一。阿伯丁的米格尔·拉兰赫罗指出，可能存在相反的力量，导致美联储加快降息或保持利率不变。他表示，经济增长可能会受益于减税和国际足联世界杯等因素，这使得中央银行在降息方面显得更加谨慎。然而，考虑到美联储将迎来新领导层，机构最终可能更倾向于货币宽松。拉兰赫罗表示：“两种情况都有可能发生，”并补充说，温和的美联储是他认为更可能的情景。(paulo.trevisani@wsj.com; @ptrevisani)

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